Phrase Of The Day: "Credible Commitment"

Nouriel Roubini

How it’s used: The US needs to make a credible commitment to reducing its deficit… but in the meantime, let’s spend, spend, spend.

Folks who may use the phrase include Nouriel Roubini, Ben Bernanke, Barack Obama, Tim Geithner, and the ratings agencies, with their empty threats to knock down the US sovereign debt rating.

Try saying it a few times. It’s fun!

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